This book is concerned with the theory of economic growth and its relevance to policy for growth in developed economies. The various factors hwich determine the potential growth rate of a developed economy, and the problems involved in actually realising it, are analysed. The author also dicusses how growth and a satisfactory balance of payments may be achieved together.
1. Investment, Technical Progress and Economic Growth. Mathmematical Appendix. 2. Research and Technical Progress. Appendix: The ‘Neutrality’ of Technical Progress 3. Capital Intensity and Economic Growth. Appendix I: The Rate of Profit, and Relative Prices of Capital and Consumer Goods Appendix II: The ‘Cobb-Douglas’ Production Function 4. Economic Growth at Full Employment 5. Government Policy for Growth: I Policy to Control the Overall Rate of Investment 6. Government Policy for Growth: II Policy to Influence Capital Intensity 7. Growth and the Balance of Payments 8. Conclusion